Guideline Value for Venkatesapuram Colony

Venkatesapuram Colony guideline value

The current guideline value of Venkatesapuram Colony is Rs 4,900 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Residential Class III Type - II.

How the guideline value of Venkatesapuram Colony has changed

The guideline value for Venkatesapuram Colony has seen significant changes over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased to Rs 3,015 per sq.ft in 2017, marking a 149% rise. The value further increased to Rs 4,500 per sq.ft in 2023, reflecting a 49% change from the previous revision. The current 2024 revision shows a guideline value of Rs 4,900 per sq.ft, which is a 9% increase from 2023.

There are no figures available for the years 2002, 2003, and 2012 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, which is equal to the guideline value of Venkatesapuram Colony.

• Venkatesapuram Colony 1st Street (V.P): Rs 4,900 per sq.ft (2024)
• Venkatesapuram Colony 2nd Street (V.P): Rs 4,900 per sq.ft (2024)
• Venkataraman Salai(M.G.R. Nagar, Nesappakkam): Rs 3,300 per sq.ft (2024)
• Venkatachalam Street Block 82 (JPT): Rs 4,900 per sq.ft (2024)
• Vengeeswarar Nagar 3rd Street: Rs 6,000 per sq.ft (2024)
• Vengeeswarar Nagar 3rd Cross Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesapuram Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatesapuram Colony?

The Sub Registrar Office covering Venkatesapuram Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kodambakkam

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kodambakkam, the guideline value helps in calculating the applicable stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

It is crucial for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the registration process. This value serves as a benchmark for assessing property transactions in the area.

Frequently asked questions

What is the current guideline value of Venkatesapuram Colony?

The current guideline value of Venkatesapuram Colony is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 305% over the years.

What is the land classification for Venkatesapuram Colony?

The land classification for Venkatesapuram Colony is Residential Class III Type - II.

What are the stamp duty and registration fees for a property in Venkatesapuram Colony?

For a property valued at Rs 49,00,000, the stamp duty is Rs 3,43,000, and the registration fee is Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Venkatesapuram Colony located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.